UPM and Tornator sign forestry land sales and wood supply agreements
(Thomson Reuters ONE) -
(UPM, Helsinki, 30 March 2017 at 12:00 EET) - UPM and Tornator PLC have today
signed a letter of intent on forestry land sales and long-term wood supply.
Tornator will annually sell a significant volume of wood from their forests to
UPM mills in Eastern Finland. Additionally, the companies have agreed on
forestry land sales covering 23,000 hectares of UPM-owned forest estates in
North Karelia to be sold to Tornator. The forests are located in the
municipalities of Ilomantsi, Juuka, Lieksa and Polvijärvi and they are both
PEFC(TM) and FSC(®) certified (FSC C 109750). The parties have agreed not to
disclose the value of the agreements.
"Our mills in Eastern Finland use all wood assortments and Tornator owns a
significant number of FSC certified (FSC C 123368) forests in their vicinity
with a versatile range of tree species", says Sauli Brander, SVP, UPM Wood
Sourcing and Forestry. "This agreement strengthens the wood supply to UPM mills
and increases the FSC certified wood volume in our mills in Eastern Finland."
"Our strategy is to grow as a forest owner and at the same time to be a
responsible and competitive partner to our customers and stakeholders. The
agreements with UPM support our goals extremely well. They do not affect on
Tornator's ownership or business model", explains Sixten Sunabacka, CEO,
Tornator PLC.
"The UPM forest estates covered in the agreement are located in Tornator's core
area and bring along significant synergy benefits in forestry and improve our
service capabilities in wood and lakeshore plot markets. Furthermore, they
enhance our capability to supply double-certified wood to our current
customers", says Sunabacka.
"This forestry land sales is different than our previous investor agreements as
the buyer is an established forest owner in the vicinity of our mills and thus
able to flexibly supply wood to UPM", continues Brander.
As part of the real estate portfolio development UPM has for several years
regularly sold forest assets located far from its mills.
For more information, please contact:
Sauli Brander, UPM, SVP, Wood Sourcing and Forestry, tel. +358 40 567 4155
Sixten Sunabacka, Tornator PLC, CEO, tel. +358 400 366 148
UPM
Through the renewing of the bio and forest industries, UPM is building a
sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM
Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are
made of renewable raw materials and are recyclable. We serve our customers
worldwide. The group employs around 19,300 people and its annual sales are
approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM
- The Biofore Company- www.upm.com
Follow UPM: Twitter | LinkedIn | Facebook | YouTube | Instagram | upmbiofore.com
Tornator is a leading company specialised in responsible forestry with own
forests in Finland, Estonia and Romania. The group turnover was approximately
97 million euros in 2016 and the balance sheet grew close to 1.4 billion euros.
The group employs around 200 people. Tornator forests altogether employ directly
approximately 900 man-years. The company is the most remarkable community tax
payer in North Karelia and amongst the top 50 in Finland. The main owners of
Tornator are Finnish institutional investors. www.tornator.fi/en/
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: UPM via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.03.2017 - 11:00 Uhr
Sprache: Deutsch
News-ID 533351
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"UPM and Tornator sign forestry land sales and wood supply agreements"
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